Actuary: EquiTrust, West Des Moines, IA
February 17, 2020 by N/A
The Actuary will be responsible for leading the modeling and valuation team in performing monthly/quarterly valuations and year-end financial reporting for both life and annuity blocks of business. This includes Statutory and Tax reserves, ALM risk duration and Cash Flow Testing. The Actuary will provide leadership to a growing actuarial modeling and valuation team including overseeing the work of others, being called upon to perform various tasks and initiatives to support and lead the business unit, and provide sound decision making and judgment as it relates to department priorities and objectives.
Essential Duties and Responsibilities:
- Manages and leads a team including but not limited to the following activities: actively involved in the recommendations for hiring, termination, promotions and transfers, assessing performance and completing performance appraisals, responsibility allocations and task completion, problem resolution, performance and other day-to-day people management responsibilities.
- Leads and manages the conversion of actuarial systems into a single ALFA based platform.
- Establishes a robust controlled process for model development and coding.
- Enhances testing processes, from unit testing to user acceptance testing, to ensure timely and effective delivery of accurate model updates.
- Effectively automates processes, improves analytics and enhances controls using sound actuarial practices to produce liabilities in compliance with all applicable regulatory, industry and professional standards.
- Manages monthly/quarterly/annual production, reporting, analysis and explanation of reserves (direct and ceded based on reinsurance treaties) and communicate results to appropriate parties.
- Leads the integration of new products into the corporate in-force model.
- Builds and maintains strong partnership with the investment team, model user groups and other stakeholders within the company.
- Validates actuarial models and analyze results from actuarial models.
- Provides support to internal/external auditors, insurance departments, Accounting, Finance, Actuarial, the Executive Team and other departments as needed.
- Communicates the model development plan and accomplishments to the functional areas, senior leadership, and appropriate governance committees.
- Manages monthly/quarterly Statutory reporting, verify results for accuracy and reasonableness; and analyze movements period over period.
Skills and Abilities:
- Advanced actuarial and/or quantitative modeling skills.
- Advanced proficiency with Microsoft Office product, including Excel and Access
- Working knowledge of actuarial software ALFA and ARCVAL.
- Exposure to programming and scripting skills including VBA, SQL, or Python.
- Detailed understanding of Fixed Indexed Annuity/Indexed Universal Life and their associated risk.
- Strong problem solving, analytical and decision-making skills.
- Strong organizational, communication and interpersonal skills
- Demonstrated high competency to solve complex calculations and understand technical written material
- Highly organized with the demonstrated ability to manage multiple projects and to switch priorities as necessary.
- Ability to work independently and collaboratively as part of a team.
Training Or Work Experience:
- Minimum 5 years of actuarial modeling experience required.
- Experience with MG-ALFA modeling, actuarial projection and financial reporting preferred.
- Experience with life and fixed indexed annuity products required.
- Knowledge of statutory valuation, ALM risk analysis, and cash flow testing requirements preferred.
Bachelors Degree – Required
Specific Degree: Actuarial Science, Finance, Statistics, Accounting, Computer Science, or Quantitative Mathematics preferred
Fellow of the Society of Actuaries (FSA) required.
- Occasional travel (5-10% of the time).